Asia: Market for Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride 2024

Market Size for Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride in Asia

The Asian market for rigid tubes, pipes and hoses of polymers of vinyl chloride shrank to $X in 2022, which is down by -5.2% against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride in Asia

In value terms, vinyl chloride polymer rigid pipes production declined to $X in 2022 estimated in export price. The total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +6.9% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 20%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride

Exports in Asia

In 2022, exports of rigid tubes, pipes and hoses of polymers of vinyl chloride in Asia rose sharply to X tons, with an increase of 6.9% against the year before. The total export volume increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 23% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, vinyl chloride polymer rigid pipes exports soared to $X in 2022. Total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +87.0% against 2016 indices. The pace of growth appeared the most rapid in 2021 with an increase of 33% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

China represented the main exporting country with an export of about X tons, which resulted at 38% of total exports. India (X tons) held the second position in the ranking, followed by Bahrain (X tons), Turkey (X tons), Malaysia (X tons) and the Philippines (X tons). All these countries together took approx. 48% share of total exports. Oman (X tons) held a little share of total exports.

Exports from China increased at an average annual rate of +1.7% from 2012 to 2022. At the same time, the Philippines (+102.6%), Oman (+33.1%), India (+10.8%), Bahrain (+6.5%) and Malaysia (+2.2%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in Asia, with a CAGR of +102.6% from 2012-2022. By contrast, Turkey (-2.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India, the Philippines, Bahrain and Oman increased by +6.9, +5.3, +3.2 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest vinyl chloride polymer rigid pipes supplier in Asia, comprising 41% of total exports. The second position in the ranking was taken by India ($X), with a 14% share of total exports. It was followed by Bahrain, with a 9.8% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +4.0%. In the other countries, the average annual rates were as follows: India (+12.6% per year) and Bahrain (+5.8% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, rising by 7.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2021 when the export price increased by 8.5% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.2%), while the other leaders experienced more modest paces of growth.

Imports of Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride

Imports in Asia

In 2022, the amount of rigid tubes, pipes and hoses of polymers of vinyl chloride imported in Asia reduced to X tons, falling by -1.8% on the previous year's figure. The total import volume increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 18% against the previous year. As a result, imports reached the peak of X tons, and then dropped slightly in the following year.

In value terms, vinyl chloride polymer rigid pipes imports amounted to $X in 2022. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 27% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

In 2022, Saudi Arabia (X tons), Singapore (X tons), Iraq (X tons) and Hong Kong SAR (X tons) represented the largest importer of rigid tubes, pipes and hoses of polymers of vinyl chloride in Asia, comprising 45% of total import. It was distantly followed by the United Arab Emirates (X tons), making up a 4.7% share of total imports. Indonesia (X tons), Vietnam (X tons), Thailand (X tons), Myanmar (X tons), Lao People's Democratic Republic (X tons), China (X tons), Cambodia (X tons) and Malaysia (X tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of +64.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Singapore ($X) and Iraq ($X) were the countries with the highest levels of imports in 2022, together accounting for 29% of total imports. China, Hong Kong SAR, Indonesia, the United Arab Emirates, Vietnam, Malaysia, Thailand, Cambodia, Lao People's Democratic Republic and Myanmar lagged somewhat behind, together comprising a further 39%.

In terms of the main importing countries, Lao People's Democratic Republic, with a CAGR of +53.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, increasing by 2.9% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 7.3%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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